NBE says new certificates of deposit brought in 42 bln Egyptian pounds

The National Bank of Egypt has received around 42 billion Egyptian pounds ($2.5 billion) from new certificates of deposit it started offering last week, deputy chief Yehia Aboul Fotouh further told Amwal Al Ghad Saturday.

NBE and Banque Misr, the largest state banks, said on November 3 they would offer 18-month certificates of deposit at 20 percent and three-year certificates of deposit at 16 percent.